Veda, a decentralized finance (DeFi) platform, has announced the completion of an $18 million funding round led by CoinFund. The funds will be used to develop a universal vault system and simplify access to DeFi for users.
Platform Simplifies Yield for Developers and Institutions
Veda offers a vault infrastructure that allows developers and institutions to integrate yield products without dealing with technical complexities. The platform's smart contracts manage user deposits and automate strategies across multiple blockchains, facilitating the offering of savings and stable yield products.
Ecosystem Growth and User Metrics
Since launching in March 2024, Veda has attracted over 100,000 users globally. According to DeFiLlama, its total locked value (TVL) stands at $3.34 billion. The platform integrates with wallets like Binance Wallet and Bybit Web3, easing management of decentralized yield.
Capital Deployment Strategy and Future Plans
The $18 million raised will be used for scaling enterprise integrations and expanding yield options both on-chain and off-chain. Veda also plans to enhance developer services and pursue new strategic partnerships.
Veda aims to simplify access to DeFi services and expand its role as a key component in the future of financial applications. It continues to improve security and plans expansion into centralized exchanges.
